Bharti Enterprises sells Future Retail's 57 lakh shares worth around Rs 300 crore

Edelweiss group firm Ecap Equities Ltd bought 16.5 lakh shares worth over Rs 87 crore while Edelweiss special opportunities fund purchased 40.43 lakh shares valuing Rs 212 crore.

Press Trust of India November 30, 2018 09:46:20 IST
Bharti Enterprises sells Future Retail's 57 lakh shares worth around Rs 300 crore

New Delhi: Bharti Enterprises on Thursday sold over 57 lakh shares of Future Retail for around Rs 300 crore through open market operations. The shares were bought by Edelweiss group, according to the block deal data available with BSE.

Bharti disposed of 56.93 lakh shares, amounting to 1.13 percent stake in Kishor Biyani-led Future Retail.

The shares were offloaded at an average price of Rs 525.9 translating into a transaction of Rs 299.3 crore.

Bharti Enterprises sells Future Retails 57 lakh shares worth around Rs 300 crore

Future Retail. Reuters

Edelweiss group firm Ecap Equities Ltd bought 16.5 lakh shares worth over Rs 87 crore while Edelweiss special opportunities fund purchased 40.43 lakh shares valuing Rs 212 crore.

Shares of Future Retail closed at Rs 504.25, down by 4.23 percent.

In June, Bharti group entity Cedar Support offloaded 6 percent stake in future retail for Rs 1,697 crore through open market transactions.

Earlier in May 2015, Future Group had acquired Bharti Group's retail business under the EasyDay chain in an all-stock deal worth Rs 750 crore to create one of the biggest supermarket chains. Following the deal, Bharti Group's retail business had merged with Future Retail.

Updated Date:

also read

US-based 7-Eleven to make India foray through Future Retail; firm’s first store likely to open this year
Business

US-based 7-Eleven to make India foray through Future Retail; firm’s first store likely to open this year

Future Group said 7-Eleven's entry into the country will modernise the small-retail environment and bring greater convenience to shoppers.

Sebi approves upto Rs 1,600 cr rights issue of Future Retail
Corporate

Sebi approves upto Rs 1,600 cr rights issue of Future Retail

The company had filed its application with the Securities and Exchange Board of India (Sebi) for the proposed rights issue in July.<br />

Soon, Kishore Biyani's Future Group may acquire cold-storage co to drive food business
Corporate

Soon, Kishore Biyani's Future Group may acquire cold-storage co to drive food business

The group has already invested Rs 200 crore for the Karnataka food park and will be investing another Rs 750 crore for the facility over the next few years.<br />